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PGR

Progressive Corp

US$209.35-0.56% (-US$1.18)
Day's range
US$207.31 – US$209.93
Day's volume
US$617.1m
52-week range
US$190.32 – US$234.48

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PGR in numbers

Market cap
US$120.5bn
P/E
10.41
P/B
3.54
Dividend yield (12m)
6.69%

The 12-month dividend yield of PGR is 6.69%, above its 5-year average of 1.89%.

PGR price history

01/10/202501/10/2026
Compare with

PGR risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+7.13%+43.36%+143.96%
Volatility (annualised)23.62%26.07%24.12%
Largest drawdown-11.45%-28.84%-28.84%
Positive months6/1221/3634/60

How much did investing in PGR return?

US$1,000.00 invested on 01/10/2021 would be worth US$2,463.56 today.

Value today in PGR
US$2,463.56
Return over the period
+146.36%
Return per year
+19.76%
In the S&P 500
US$1,655.97

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

PGR fundamentals

Valuation

  • P/E
    10.41
  • P/B
    3.54
  • EV/EBITDA
    —
  • EV/EBIT
    —
  • EV/Revenue
    1.32
  • P/EBIT
    —
  • P/S
    1.32
  • P/OCF
    7.38
  • P/FCF
    7.56
  • Earnings yield
    —
  • PEG ratio
    —
  • Earnings per share
    US$20.12
  • Book value per share
    US$59.06

Efficiency

  • Gross margin
    —
  • EBITDA margin
    —
  • Operating margin
    —
  • Net margin
    12.84%
  • Asset turnover
    0.73

Profitability

  • ROE
    34.06%
  • ROA
    9.36%
  • ROIC
    —
  • Payout
    69.60%

Growth

  • Revenue CAGR (5 years)
    14.78%
  • Earnings CAGR (5 years)
    16.35%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is PGR's fair price?

Two classic value formulas, with today's numbers. The current price is US$209.35.

Graham's fair price
US$163.49
21.90% below the price

√(22.50 × US$20.12 × US$59.06)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$44.17
78.90% below the price

US$2.65 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

PGR indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E11.8016.5623.90105.1617.9210.1510.6713.47
P/B4.405.494.604.783.293.403.103.26
Dividend yield2.15%0.48%0.25%0.31%6.23%2.68%3.89%1.86%
Earnings per shareUS$19.30US$14.47US$6.66US$1.23US$5.73US$9.74US$6.78US$4.48
Book value per shareUS$51.75US$43.66US$34.62US$27.15US$31.17US$29.09US$23.36US$18.53
ROE37.29%33.14%19.25%4.54%18.38%33.48%29.04%24.17%
Net margin12.90%11.25%6.28%1.46%7.02%13.37%10.17%8.18%

PGR financial statements

Line202520242023202220212020
Net revenueUS$87.7bnUS$75.4bnUS$62.1bnUS$49.6bnUS$47.7bnUS$42.7bn
Cost of sales——————
Gross profit——————
EBITDA——————
EBIT——————
Net finance result——————
Profit before taxUS$14.2bnUS$10.7bnUS$4.9bnUS$922mUS$4.2bnUS$7.2bn
Income tax-US$2.9bn-US$2.2bn-US$1bn-US$200m-US$859.1m-US$1.5bn
Net incomeUS$11.3bnUS$8.5bnUS$3.9bnUS$722mUS$3.4bnUS$5.7bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does PGR pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Dividend30/09/202609/10/2026US$0.10

Dividend yield per year

  • 1.21%2017
  • 1.86%2018
  • 3.89%2019
  • 2.68%2020
  • 6.23%2021
  • 0.31%2022
  • 0.25%2023
  • 0.48%2024
  • 2.15%2025
  • 6.66%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend01/07/202610/07/2026US$0.10
Dividend01/04/202610/04/2026US$0.10
Dividend01/01/202608/01/2026US$13.60
Dividend01/10/202510/10/2025US$0.10
Dividend02/07/202511/07/2025US$0.10
Dividend02/04/202511/04/2025US$0.10
Dividend09/01/202516/01/2025US$4.60
Dividend02/10/202411/10/2024US$0.10
Dividend02/07/202412/07/2024US$0.10
Dividend02/04/202412/04/2024US$0.10
Dividend17/01/202426/01/2024US$0.85
Dividend03/10/202313/10/2023US$0.10
See all 34 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend05/07/202314/07/2023US$0.10
Dividend04/04/202314/04/2023US$0.10
Dividend04/01/202313/01/2023US$0.10
Dividend05/10/202214/10/2022US$0.10
Dividend05/07/202215/07/2022US$0.10
Dividend05/04/202214/04/2022US$0.10
Dividend05/01/202214/01/2022US$0.10
Dividend16/12/202129/12/2021US$1.50
Dividend05/10/202115/10/2021US$0.10
Dividend05/07/202115/07/2021US$0.10
Dividend05/04/202115/04/2021US$0.10
Dividend06/01/202115/01/2021US$4.60
Dividend05/10/202015/10/2020US$0.10
Dividend03/07/202015/07/2020US$0.10
Dividend03/04/202015/04/2020US$0.10
Dividend06/01/202015/01/2020US$2.35
Dividend03/10/201915/10/2019US$0.10
Dividend02/07/201915/07/2019US$0.10
Dividend03/04/201915/04/2019US$0.10
Dividend31/01/201911/02/2019US$2.51
Dividend31/01/201809/02/2018US$1.13
Dividend31/01/201710/02/2017US$0.68

About Progressive

Sector
Finance, insurance and real estate

Questions about PGR

How much is PGR today?

PGR is at US$209.35 (-0.56% on the day), last traded on 01/10/2026.

How much did PGR pay in dividends in 2025?

PGR paid US$4.90 per share in 2025, a dividend yield of 2.15%.

When is the next PGR dividend?

The next announced payment is US$0.10 per share on 09/10/2026.

What are the P/E and P/B of PGR?

PGR trades at a P/E of 10.41 and a P/B of 3.54.

How much did PGR return in 12 months?

PGR returned 7.13% in 12 months, with annualised volatility of 23.62% and a largest drawdown of -11.45%.